Don’t bank on getting a good deal
At last some good news. It seems that almost two-thirds of us don’t trust our bank.
Yes, that is good news.
A poll by MortgageSorter.co.uk found 62 per cent of people don’t think their account provider puts their best interests first, and fewer than one in ten said they had complete faith in their bank.
In an ideal world we would all be able to trust financial institutions to behave decently and not try to rip us off at every turn with over-priced, shoddy products.
But, sadly, that’s not where we live.
As MortgageSorter’s Edward Parry points out: “The banks’ main priority is pleasing their shareholders, not serving the public.
“The big five – Royal Bank of Scotland, Halifax/Bank of Scotland, Barclays, HSBC and Lloyds TSB – reported a combined profit of around £38 billion last year.
“That works out at more than £100 million a day, and you don’t make that kind of money by putting customers first.”
Which is why, no matter what kind of financial product you’re after, it’s vital to shop around for the best possible deal to suit your needs – and not the banks’.
